Chapter 7 Bankruptcy in Cherry Hill, NJ

For a lot of people in Cherry Hill and across Camden County, Chapter 7 is the fastest way out. It’s the “clean slate” bankruptcy: it wipes out most unsecured debt, credit cards, medical bills, personal loans, old collections, usually in about 90 to 120 days, and most filers keep everything they own.

Do you qualify? Chapter 7 has an income test (the “means test”) that compares your household income to the New Jersey median for a household your size. Because this is a New Jersey filing, it’s the New Jersey median that matters, not Pennsylvania’s. If you’re under the median, you generally qualify. If you’re over it, there’s a second part of the test, and we’ll walk through it with you on the free call. Plenty of people who assume they earn too much still qualify.

Will you lose anything? Almost certainly not. New Jersey lets you choose between the state exemptions and the federal bankruptcy exemptions, and most filers use the federal set because it protects more. Between them, exemptions typically cover your home equity (currently up to $31,575), your car (up to $5,025), household goods, the tools of your trade (up to $3,175), and retirement accounts. We check this before we file, so there are no surprises.

What it’s like. Your case is filed in the U.S. Bankruptcy Court for the District of New Jersey, Camden vicinage, just down the road. There’s one short meeting of creditors (the “341 meeting”), which is currently held remotely. You almost never see a judge. Mike handles the filing, the paperwork, and the meeting with you, and you work with him the whole way, not a rotating cast.

Flat fee, payment plans, and a free first consultation by phone or Zoom. If you also qualify on income, ask about our $999 flat-fee Chapter 7.